Government sets out new plans for data protection
Once the UK left the EU, rules surrounding data protection were taken into domestic law virtually unchanged as UK GDPR. That situation is set to change as the government has published its response to Data: a New Direction, a 2021 consultation on reforms to create “an ambitious, pro growth and innovation friendly data protection regime”.
Why is there a need to reform GDPR?
Government has stated
“…personal data is a huge strategic asset and the driving force of the world’s modern economies. It fuels innovation in businesses large and small, drives scientific discovery and has been a lifeline during the global coronavirus pandemic. This government’s ambition on data is clear; we will establish the UK as the most attractive global data marketplace.”
What are the key changes proposed?
Proposals under consideration include the introduction of a new lawful basis for scientific research, the ability for organisations to come up with their own data transfer mechanisms and the removal of Article 22 which deals with automated decision making, as well as greatly extended governmental control of the UK's ICO.
What impact might this have on your business?
Plans to reform current UK GDPR (which reflects the EU GDPR), raised fears that these proposed changes would put the UK's EU adequacy decision at risk, creating a future problem for EU-UK data transfers. Businesses were also concerned that they might lead to an increased rather than a decreased compliance burden on multinationals which would have to comply with an additional regime.
Businesses will need to adapt, possibly running concurrent compliance regimes under UK and EU rules. Government is keen to stress that businesses which are already UK GDPR compliant will not have to make too many changes.
To read the full document click on the link below
The Chancellor announces the Autumn Statement. What does it mean for you?
The Chancellor Jeremy Hunt, has presented his Autumn Statement which he says is focused on growing the economy through reducing debt, cutting taxes and rewarding work. He stated that, ‘Our plan for the British economy is working, but the work is not done.’ This article will provide a summary of the measures announced. Do look out for a full report that will be sent to our newsletter subscribers in the coming days.
A guide to capital gains tax exemptions and the family home
A valuable relief exists on the sale of the family home, but in certain situations careful planning is required to ensure that the relief is obtained. The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs from which many people benefit during their lifetime. In this article we look at the operation of the relief and consider factors that may cause it to be restricted.
Sign up to receive our private content
straight to your inbox